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Index Triage – The Shape of Things to Come (Charts)

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

The two big events on the horizon are (1) the Fed announcement next Wednesday and (2) the results of the farcical China/US trade talks, which don’t have a precise date or time but probably will have some kind of definitive outcome before October 15th. In the meanwhile, we’re just grinding things out.

Liquidity moves markets!

Follow the money. Find the profits! 

What I’ve done is take a series of major index charts and grouped them into three categories, depending on their relationship with their own lifetime highs. Let’s check ’em out………….

Lifetime Highs

These are items which have already achieved lifetime intraday highs or are at least very, very close to doing so. There are five of them, and like I’ve said a few hundred times already, but for some reason I always like to say again, click on any chart for a large version.

No Cigar

The next set is the “close, but no cigar” category. They have been strong, to be sure, but they still need a few really strong days to push them across the finish line.

The Abyss

Lastly are the freaks which, for whatever reason, are a long, long way from their historic highs. This is kind of my wheelhouse.

Good luck, try to be patient, and keep the faith!

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